Economic Outlook - The Medical Device Tax
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There are nearly 6,000 people working directly, and approximately 6,000 people working indirectly in the medical device industry in the Warsaw, Indiana and Kosciusko County areas. Nearly 60% of the medical device industry and production occurs in the that same area. Orthopedic device sales coming out of the Warsaw area account for about $33 Billion annually. Effective January 1, 2013, the federal government, as part of the Affordable Health Care Act, implemented a 2.3% excise tax on gross sales of all medical devices sold here in the United States. This will have a direct and indirect affect on the region.
In This Episode
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In This Segment
The Medical Device Industry is approximately a $150 Billion industry. Effective January 1, The United States government implemented a medical device excise tax of 2.3% on the gross sales of every medical device sold in the United States. This medical device tax could have huge ramifications on the medical device industry and specifically on the Warsaw/ Kosciusko County businesses. We examine this very important issue effecting our region.
Guests
- Mark DobsonChamber of Commerce Of Warsaw
- Nick DeeterFounder and ChairmanOrtho Pediatrics
- Mark DobsonChamber of Commerce Of Warsaw